Avanza Fonder AB Acquires Shares of 25,357 Cardinal Health, Inc. (NYSE:CAH)

Avanza Fonder AB bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 25,357 shares of the company's stock, valued at approximately $2,999,000.

Other large investors also recently modified their holdings of the company. Eastern Bank acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC boosted its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after buying an additional 104 shares in the last quarter. Hara Capital LLC bought a new position in Cardinal Health in the third quarter valued at about $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the third quarter worth about $33,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Cardinal Health in the third quarter worth about $47,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAH. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price objective on the stock. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and upped their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Barclays lifted their price target on Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Citigroup upped their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $133.29.

Cardinal Health Stock Down 0.6 %

CAH traded down $0.76 during trading on Friday, reaching $126.27. 1,642,944 shares of the stock traded hands, compared to its average volume of 1,877,583. The stock's 50-day moving average is $120.75 and its 200 day moving average is $111.81. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.27. The stock has a market capitalization of $30.56 billion, a PE ratio of 24.57, a P/E/G ratio of 1.48 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health's payout ratio is 39.30%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.